Segment Reporting

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Segment Reporting

NOTE 2 – SEGMENT REPORTING

The Company reports its financial performance based on the following three reportable segments: Fuel Specialties, Performance Chemicals and Oilfield Services.

The Fuel Specialties, Performance Chemicals and Oilfield Services segments operate in markets where we actively seek growth opportunities although their ultimate customers are different. Our previously reported Octane Additives segment ceased trading in the second quarter of 2020.

The Company evaluates the performance of its segments based on operating income. The following tables analyze sales and other financial information by the Company’s reportable segments:

	Three Months Ended March 31
(in millions)	2021			2020
Net Sales:
Refinery and Performance	$	99.3		$	108.6
Other		40.0			38.4
Fuel Specialties		139.3			147.0
Personal Care		68.2			63.0
Home Care		23.0			21.6
Other		34.7			28.5
Performance Chemicals		125.9			113.1
Oilfield Services		74.4			112.2
	$	339.6		$	372.3
Gross profit/(loss):
Fuel Specialties	$	44.9		$	51.2
Performance Chemicals		31.4			27.6
Oilfield Services		24.5			36.2
Octane Additives		0.0			(1.1	)
	$	100.8		$	113.9
Operating income/(loss):
Fuel Specialties	$	23.8		$	32.1
Performance Chemicals		18.3			15.6
Oilfield Services		1.2			7.2
Octane Additives		0.0			(1.2	)
Corporate costs		(15.1	)		(12.8	)
Total operating income	$	28.2		$	40.9